Chinese automakers rush to build plants in Brazil after plummeting sales to the country in the...

Chinese automakers rush to build plants in Brazil after plummeting sales to the country in the wake of higher taxes on imported cars. The latest is JAC Motors, which will break ground on a $450M factory in November. At first, the plants will assemble vehicles with parts shipped from other countries, but within 5 years, 65% of the parts are expected to be locally sourced.